MGP Ingredients (NASDAQ:MGPI) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report released on Thursday.
Separately, ValuEngine lowered shares of MGP Ingredients from a “buy” rating to a “hold” rating in a report on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. MGP Ingredients presently has a consensus rating of “Buy” and an average price target of $87.33.
MGPI opened at $74.31 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.34 and a current ratio of 4.70. MGP Ingredients has a twelve month low of $61.74 and a twelve month high of $99.73. The stock has a market capitalization of $1.33 billion, a PE ratio of 39.74 and a beta of 0.96.
MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Thursday, August 2nd. The company reported $0.44 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.03). MGP Ingredients had a return on equity of 18.65% and a net margin of 12.13%. The firm had revenue of $88.25 million during the quarter, compared to the consensus estimate of $90.65 million. During the same period in the previous year, the company posted $0.37 EPS. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts expect that MGP Ingredients will post 2.1 earnings per share for the current year.
In other MGP Ingredients news, VP Stephen J. Glaser sold 390 shares of the stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $75.32, for a total transaction of $29,374.80. Following the sale, the vice president now owns 15,405 shares of the company’s stock, valued at approximately $1,160,304.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Karen Seaberg sold 1,266 shares of the stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $79.48, for a total transaction of $100,621.68. Following the sale, the director now directly owns 11,864 shares in the company, valued at approximately $942,950.72. The disclosure for this sale can be found here. In the last three months, insiders have acquired 16,000 shares of company stock worth $1,176,250 and have sold 20,475 shares worth $1,606,841. 22.19% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in MGP Ingredients by 1,684.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,052 shares of the company’s stock worth $182,000 after acquiring an additional 1,937 shares during the last quarter. Kessler Investment Group LLC acquired a new position in MGP Ingredients during the 2nd quarter valued at about $191,000. United Services Automobile Association acquired a new position in MGP Ingredients during the 2nd quarter valued at about $218,000. Koch Industries Inc. acquired a new position in MGP Ingredients during the 1st quarter valued at about $225,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in MGP Ingredients during the 2nd quarter valued at about $237,000. 98.16% of the stock is currently owned by hedge funds and other institutional investors.
MGP Ingredients Company Profile
MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, and specialty wheat proteins and starch food ingredients. It operates in two segments, Distillery Products and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.
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